Shell to proceed with ultra-deepwater Gulf project

05/8/2013 | Reuters

The development of the Stones ultra-deepwater oil and natural gas project in the Gulf of Mexico will proceed, according to Royal Dutch Shell. The company expects to produce up to 50,000 barrels of oil equivalent per day annually during the project's first phase. The project covers the construction of a floating production, storage, and offloading vessel and subsea infrastructure, Shell said.

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